Knowledge is power. In case you missed it, here’s some important information from the recent edition of the Real Estate Council of Alberta’s (RECA) quarterly newsletter, The Regulator.

Proposed modifications to RMS

RECA is proposing modifications to the Residential Measurement Standard (RMS) after its consultation on the Consequences of the Current Methodology for Measuring Semi-detached and Attached Properties found several key concerns earlier this year. Council is asking for stakeholder input and industry feedback and additional consultation is open until Sept. 16. Read more here. 

Licensing fee increase

Council approved RECA’s 2019-2020 budget that includes a $50 licensing fee increase. This was a tough decision based on Alberta’s economic situation. However, budget cuts in other areas will help keep the fee increase minimal. Read the highlights here. 

Governance Review Report 

Service Alberta recently released a KPMG Governance Review Report of RECA that reported some significant governance challenges. Council takes this report seriously and is working cooperatively with Service Alberta. Read the Chair’s message here.

To view more news from RECA in The Regulator, click here.